Performance marketing and measurability fit like a glove. Only when the results and performance of marketing measures are measurable can one speak of performance marketing. The main goal is to generate concrete actions or reactions from potential customers that lead directly to measurable results, such as clicks, leads, sales or conversions. In other words, the aim is to maximize the effectiveness and efficiency of marketing measures.
Online marketing measures are particularly well suited because digital channels make it possible to measure results precisely.
Creating the conditions for good performance
As an experienced online marketing agency, ONELINE knows how many customers approach performance marketing. And it also knows the mistakes they make due to inexperience. In the initial phase, these include the lack of a precise objective as to what is to be achieved with future performance marketing.
There are diverse approaches to what can be understood by improved performance. Here are just a few examples:
- The turnover of an online store is to be increased.
- The awareness of one’s own brand should be increased.
- The market share already achieved is to be maintained.
- The number of visitors to a new website should increase.
All these objectives and more can be evaluated and measured in concrete terms, and a combination of different objectives is also conceivable. However, in order to be successful in performance marketing, a number of conditions must be met.
Set clear goals
It is important to define clear and measurable goals for your performance marketing campaigns. These goals should be aligned with your company’s needs and priorities.
Know your target audience well
A comprehensive knowledge of your target audience is essential. You should know their demographic characteristics, behaviors, interests and preferences in order to develop targeted marketing campaigns. The better you understand your target audience, the more effectively you can engage them and persuade them to take the desired action.
Use data-driven decisions
Performance marketing is based on data and analytics. Use tracking tools and continuously measure the success of your campaigns. A robust tracking system is required to measure and analyze the performance of your campaigns. Analyze the data to gain insights into the performance of your efforts. Based on the results, make targeted optimizations to continuously improve your campaigns.
Budget and resources
Effective budget management is an essential component of good performance marketing. In addition, sufficient resources are necessary to implement effective ones. You should be able to strategically allocate budget across different channels and tactics.
Technical infrastructure
You need a technical infrastructure to collect, analyze and process data. This includes properly setting up tracking tools, CRM systems, and other marketing technologies.
Test and optimize continuously
A testing and optimization methodology is critical to good performance marketing. Run regular A/B tests to test different variations of your campaigns and compare performance. Test different elements like ad copy, images, or call-to-action buttons to see what works best. Based on the results, you can optimize your campaigns and increase effectiveness.
Success and failure can only be measured if you start with concrete numbers and data. Working these out realistically is much easier for most newcomers to digital marketing with the help of an experienced online marketing agency.
Which online marketing disciplines are suitable for performance marketing?
As soon as a concrete objective has been defined, the tracking system has been set up and the resources are ready, the next step is to select suitable methods. Here, the entire spectrum of measures that characterize modern, digital marketing is open to you. The following online marketing disciplines are frequently used:
Search engine marketing (SEA)
This involves paid ads in search engines such as Google, Bing and Co. Through targeted keyword strategies and ad optimization, relevant visitors can be directed to the website.
Search engine optimization (SEO)
By optimizing the website and the content for search engines, one tries to improve the organic search engine ranking. With the help of high-quality content and other SEO measures, the visibility of the website is increased and more qualified traffic is generated.
Social media marketing
Targeted advertising on social media channels such as Facebook, Instagram, TikTok or LinkedIn allows companies to reach their target audience, drive engagement and generate conversions.
Newsletter Marketing
By building an email list and regularly sending relevant information and offers, businesses can stay in touch with potential customers and encourage them to convert. External newsletter campaigns can also be used to reach new potential customers.
The above list of marketing disciplines is not exhaustive. Display marketing or influencer campaigns are also ideal for performance marketing campaigns. These measures can be combined and coordinated to create a holistic performance marketing strategy that delivers measurable results and achieves the set goals.
Measurability is not everything
With well thought-out measures and an individual marketing strategy, you will often be able to improve your performance in the short term. For laymen in digital marketing, it is often enough to see that figures such as the number of website visitors or the number of purchases in the online store are increasing. Through this is more of a statistical survey and still has nothing to do with a real evaluation.
A smart data analysis includes not only the collection of data, but also the right conclusions. This applies all the more if the chosen path in marketing does not show the desired success. Rarely does the entire campaign have to be turned upside down; a targeted rework or shift in the budget is sufficient.
The most important rule after campaign execution is therefore to properly evaluate the measured data and use it for future goals and campaigns. You can acquire this as your own skill over time, but in the initial phase you should again have an online marketing agency at your side. This can read the collected data correctly from experience and make concrete suggestions for improvement.
Conclusion on modern performance marketing
Good performance in the digital world requires clear goals, an understanding of the target group and the know-how to evaluate the collected data correctly. A web agency like ONELINE can guide you along this path to make the best use of your marketing budget.
